Concorde Asset Management LLC purchased a new stake in shares of Heico Corp (NYSE:HEI) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,617 shares of the aerospace company’s stock, valued at approximately $228,000.
Other large investors have also recently added to or reduced their stakes in the company. Copeland Capital Management LLC raised its stake in Heico Corp by 22.1% in the third quarter. Copeland Capital Management LLC now owns 435,724 shares of the aerospace company’s stock valued at $30,152,000 after buying an additional 78,859 shares in the last quarter. Bath Savings Trust Co raised its stake in Heico Corp by 7.4% in the first quarter. Bath Savings Trust Co now owns 14,652 shares of the aerospace company’s stock valued at $1,278,000 after buying an additional 1,005 shares in the last quarter. Artisan Partners Limited Partnership purchased a new stake in Heico Corp during the fourth quarter valued at $10,246,000. AGF Investments Inc. purchased a new stake in Heico Corp during the third quarter valued at $1,729,000. Finally, Loomis Sayles & Co. L P purchased a new stake in Heico Corp during the fourth quarter valued at $4,651,000. Institutional investors own 26.19% of the company’s stock.
Heico Corp (NYSE:HEI) traded up 1.02% during midday trading on Friday, reaching $69.54. The company’s stock had a trading volume of 200,970 shares. The firm has a 50 day moving average price of $68.83 and a 200-day moving average price of $62.48. The company has a market cap of $4.68 billion, a P/E ratio of 28.75 and a beta of 0.52. Heico Corp has a 12-month low of $47.26 and a 12-month high of $71.22.
Heico Corp (NYSE:HEI) last issued its quarterly earnings results on Tuesday, February 28th. The aerospace company reported $0.56 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.56. Heico Corp had a return on equity of 15.97% and a net margin of 11.35%. The company earned $343.40 million during the quarter, compared to analysts’ expectations of $339.29 million. During the same quarter in the previous year, the firm posted $0.49 EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts predict that Heico Corp will post $2.54 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on HEI shares. SunTrust Banks, Inc. started coverage on Heico Corp in a research report on Thursday, January 19th. They set a “buy” rating and a $85.00 price target on the stock. Zacks Investment Research upgraded Heico Corp from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research report on Friday, February 24th. Stephens started coverage on Heico Corp in a research report on Thursday, April 13th. They set an “equal weight” rating and a $87.00 price target on the stock. Jefferies Group LLC lifted their price target on Heico Corp from $84.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, March 1st. Finally, Deutsche Bank AG restated a “buy” rating and set a $100.00 price target on shares of Heico Corp in a research report on Wednesday, April 12th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Heico Corp presently has an average rating of “Buy” and a consensus price target of $86.38.
Heico Corp Company Profile
HEICO Corporation manufactures Federal Aviation Administration (FAA)-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers (OEMs) and their subcontractors. The Company also manufactures various types of electronic equipment for the aviation, medical, telecommunications and electronics industries.
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